WASDE coarse grains: Larger domestic supplies and higher ending stocks in US
United States
Published Jul 17, 2022
Tridge summary
This month’s 2022/23 U.S. corn outlook is for larger supplies and higher ending stocks. Corn beginning stocks are raised 25 million bushels, based on reduced feed and residual use for 2021/22 as indicated in the June 30 Grain Stocks report. Corn production for 2022/23 is forecast 45 million bushels higher based on greater planted and harvested area from the June 30 Acreage report. The yield is unchanged at 177.0 bushels per acre. With no use changes, ending stocks are up 70 million bushels.
Original content
The season-average farm price received by producers is lowered 10 cents to $6.65 per bushel. This month’s 2022/23 foreign coarse grain outlook is for lower production and use, and larger stocks relative to last month. Foreign corn production is down, with reductions for Russia, the EU, and Kenya partially offset by an increase for Paraguay. Russia corn production is lowered reflecting a cut in area. EU corn production is reduced with a forecast decline for Italy. For 2021/22, corn production is raised for Paraguay with increases to both area and yield. Foreign barley production for 2022/23 is lowered with reductions for Canada and the EU. Major global trade changes for 2022/23 include larger corn exports for Paraguay with a reduction for Russia. ...
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